Word: murdochized
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Dates: during 1980-1989
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...following days, though, Senator Edward M. Kennedy '54 revealed he had urged Hollings to take measures against the Boston Herald, a holding of Australian born media mogul Rupert Murdoch which routinely blasts Kennedy and his liberal colleagues in the Massachusetts congressional delegation. The only principle on which Kennedy and Hollings acted was that it's okay for senators to put their personal political agendas before the public's interests as long as they do so behind closed doors...
...PROVISION, which Hollings described as "aimed directly" against Murdoch, prohibits the Federal Communication Commision from considering Murdoch's request that it reverse "cross-ownership" restrictions, which make it impossible for the same individual to own both a daily newspaper and television station in the same area. To keep Boston's Channel 25, and New York's Channel 5, integral to his attempt to build a fourth t.v. network, Murdoch will have to sell the papers...
ALTHOUGH the Herald, which made $1.5 million last year, is not the struggling paper Murdoch bought in 1982 and could certainly attract a buyer, Kennedy well knows that few would maintain it as a spirited conservative voice in a city that lacks them...
...including the New York Journal-American, the Chicago Herald-American and the Pittsburgh Sun- Telegraph. Today the company publishes 15 dailies, most of them in smaller cities such as Midland, Texas, and Bad Axe, Mich. After years of mounting losses, the firm sold the Boston Herald American to Rupert Murdoch in 1982 and shut down the Baltimore News-American four years later. As if to prove that it was not deserting big cities entirely, Hearst bought the Houston Chronicle in March for $400 million. The Chronicle (circ. 425,000) is vying for reader loyalty with the Houston Post (circ...
...media properties through his holding company, Bell Group (1986 revenues: $1.5 billion). From that base, he has launched sallies against Broken Hill Proprietary, a huge Australian steel, oil and gas producer, and other big firms. A few months ago he engaged in a bidding war with Media Mogul Rupert Murdoch over the Herald and Weekly Times, Australia's largest media group. Last August Holmes a Court disclosed that he was seeking a 15% stake in USX, the steel giant. As takeover speculation pushed the price of the stock upward, he reportedly took a profit on a block of his shares...